EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
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Financial Services Disputes Services
We combine deep professional experience, proven ability to help deliver transformation projects and broad technical knowledge of the ServiceNow platform.
What EY can do for you
The growing use of digital platforms, subscription models and real-time payments is making transactions more flexible and abstract. Although customers benefit from options like digital wallets and instant payments, these innovations also heighten fraud risks.
In this dynamically changing environment, primary business drivers for reimagining disputes have emerged.
- The number of disputes is growing rapidly.
- Disputes management technology remains outdated.
- Costs are rapidly increasing.
EY teams have extensive experience helping clients transform and make improvements along the disputes lifecycle. Using ServiceNow, they boost efficiency, improve client experience and reduce costs.
Examples include:
- Frictionless cardholder service
- Detailed disputes content integration
- Seamless compliance
EY teams help you be successful with a fully integrated approach to delivery.
- Strategy: Excellent strategy planning sets the stage for design decisions that will help deliver value to end-users. A well-informed strategy is critical for designing a successful disputes management platform that drives efficiency, speed and ease of use.
- Design: Through close collaboration with clients, we will partner to design and configure an extensible, scalable technology solution that is secure, future-proofed for future use cases, and defines principles to which the overall comprehensive solution should conform.
- Tech delivery: Quarterly release new system functionality, leveraging an Agile delivery method to frequently release value. Leverage automated testing and CI/CD as fundamental development principles when releasing software.
- PMO and governance: A formal governance model which does not constrain decision-making velocity is pertinent to execution of large-scale technology programs. Consistent processes reduce operating costs and risk, simplify management, and allow for standardization and automation.
Offering benefits
Implementing improvements across the lifecycle provides opportunity quality and efficiency benefits to reduce operational costs and accelerate timelines.
Claim prevention
- 30%–40% reduction in claims volumes
- 40%–50% reduction in friendly fraud
Self-service intake optimization
- Reduce average call time by two minutes
- Direct to merchant resolution
Intelligent claims processing
- Using automated routing limits manual processing
- Eliminate arbitrary charge-off threshold
- Reduce charge-off risk related to Reg. E and Z time limits
Case management
- Reduce number of FTE to manually process claims
- Faster time to process claims
Fulfilment and orchestration
- Clearly communicate claim process, status and decision to cardholder
- Automated customer communications